Why Life Insurance is a Need of Every Woman?

Life Insurances 152 views

Today in India, women come with varying financial backgrounds. Yes, it would not be wrong to say that with the help of education empowerment, Indian women nowadays are financially self dependent, and can look after themselves without the need of anyone. However, a huge section of women in India belongs to housewives/homemakers, whereas another section belongs to working class, holding senior job positions.

Moreover, with the advancement in technology, many women also have the opportunity to work from home, while on the other hand the single women also know how to earn, and fend for themselves.

There is no denying on the fact that women have empowered themselves really well, especially on financial aspect. And, when it comes to creating a financially corpus for themselves along with the family, it would not be wrong to say that the onus still lies on the shoulders of the men.

However, this attitude towards financial planning as well as insurance needs to be shifted towards the women because there is no doubt that women are far better than men when it comes to financial planning. Yes, as doing so will not help them to share the financial responsibility, but also make sure that their financial status will remain secure today and tomorrow. Whether a woman is working, homemaker, single mother, work-from-home, each of this huge gamut should have a life insurance policy for the following below valid reasons.

Stay-at-Home/Work-From-Home Women

Many of you will surely agree on the fact that it is absolutely not an easy job to look after the house, kids, doing house work such as cooking, cleaning, and the list goes on. Women staying at home or doing work from home usually have an unpaid job of 24×7. However, what the more important for them is that they need to have a good life insurance policy/plan in times of unfortunate events. Moreover, if the woman of the house dies unfortunately, the needs of the dependants of the house can be taken care of. The man can later use this money as it allows to cut down on the working hours, and helps in creating a normalcy at home, for the kids.  This extra money can also be used paying for the helpers like the creche, housemaids, cooks,etc. In fact the spouse can also use the money in learning something new which can ultimately keep the dependants financially strong in the future.

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Divorced/Single Women

Moreover, single women without having the dependants need an enough corpus so that it will help them secure financially after the retirement. Here,the benefits of getting an insurance are just the same as any insurance meant for an individual investor. Yes, with the help of this, they can lead a good lifestyle long after they no longer get their monthly income. Moreover, the divorced and single women need a good corpus so that their child education plan will remain financial stable, and any impending debts are paid after their demise.

However, with doing the investment in life insurance and ULIPs all the single and divorced women can also gain the much required assurance during their retirement days.

Working Women

Working women, who are married or unmarried should actually make the most out of investing in insurance policies. More to the point, with dual income families on the rise, there is no denying on the fact that there is a significant earning in the particular household. Even though the expenses are equally on the rise, thus there is a golden chance to save for the future so as to cherish those years fruitfully. However, if in case of the death of a spouse, it would not be wrong to say that the surviving woman can use the claim in order to pay off all the medical expenses, liabilities, and even turn the corpus into an asset.

Well, the possibilities are many, if a working woman invests in a life insurance policy as it helps in preventing any sort of financial derailment in the future.

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Wealth Creation

Moreover, with having the sum assured given by insurance policy, a woman can start her own business in the future. In addition to, with wealth in-hand, she can also pursue her long lost hobby by further investing in policies or SIP's, travel or in fact she can also buy the assets. When it comes to investing in insurance policies then make sure that you have a secure saving, can get the tax benefits as well as protect herself.

Securing The Retirement

If a working woman and her spouse has invested in a retirement plan, this is the right time for you to hit the road. In fact, a chunk of investment every month will help you and your family to have a sizeable income so as to enjoy after the retirement, especially in the case where you are used to dual income then relying on a retirement plan of single spouse will not suit your goals at all. In fact, old age demands illness and medical expenses, thus with the help of having the dual retirement policy, you can easily meet all your financial needs.